Intermedia Buys Hosted VoIP Provider Telanetix

The $55 million includes the assumption of about $13 million in debt and liabilities. Current Telanetix common shareholders stand to make about $7.40 per share in cash once the transaction is finished.

Telanetix, which includes the AccessLine brand, offers hosted PBX, SIP trunking and video services primarily to small and medium-sized businesses (SMB). Telanetix reported about $31.2 million in revenue for its fiscal 2012, which ended Sept. 30, 2012.

[Related: 10 Networking Predictions For 2013 ]

The move makes New York-based Intermedia, already the world's largest third-party provider of hosted Microsoft Exchange services, a top cloud PBX provider in the U.S. The AccessLine services will become part of Intermedia's integrated cloud services portfolio and will managed by its HostPilot Control Panel. The company has more than 6,800 channel partners that private label its services.

"This transaction enables us to further execute on our Office in the Cloud vision of an integrated suite of cloud services for small and medium-sized businesses and the channels that serve them," Phil Koen, Intermedia's CEO and chairman, said in a statement.

Intermedia was acquired by venture capital firm Oak Hill Capital Partners in 2011. Oak Hill, along with a bank syndicate led by Silicon Valley Bank, Royal Bank of Canada and others, are helping to finance the Telanetix transaction. Telanetix is a portfolio company of Hale Capital Partners.

Intermedia in 2011 acquired cloud services provider Zlago.

M&A activity among hosted communications providers has become more frequent in recent years as customers embrace cloud-based voice, UC and video. Recent moves included ShoreTel's 2012 pickup of M5 Networks, now ShoreTel's Cloud Division.

PUBLISHED JAN. 22, 2013